Crawley Town takeover.. dear oh dear

[cambridgeshire canary 6,769]

https://www.crawleytownfc.com/news/2022/april/wagmi-united-complete-takeover-of-club/

 

Any club that thinks it's a great idea to have your club owned by Crypto scammers and NFT pyramid schemes deserves everything they have coming to them. Got to feel sorry for the fans though fair to say from what I have seen online some seem some are understandingly about this.  Then again why do I feel some would be happy for them to take us over? Grass greener and all that. The very fact that Crawley are claming they are now going to be funded by NFT sales.. How long do we think it's going to take for them to go bust?

 

Rather interestingly they tried taking over Bradford last year, with the promise of getting them promoted to the Prem in just a few years and tried to buy them with cryptocurrency rather than, you know, real money. Bet you can work out how that went..

https://www.bradfordcityafc.com/news/2021/december/statement-wagmi-united-llc/

 

Edited April 7, 2022 by cambridgeshire canary

[shefcanary 2,440]

CC, your intro hints at a completely different tale to the Crawley website statement.  Could you share the source of your commentary or broaden out your introduction to help us mere mortals understand the "truth" about WAGMI?

ah, ha, you have now.  

So, they buy the club, then recoup their investment by selling it to fans in the form of NFT's.  Their comment about the downside is thus arrogant at best, because presumably should the worst happen, individual fans will be out of pocket.  There is also little discussion here of how much share in the club per NFT or what the cost of an NFT will be. 

And what voting rights do you get for the NFT?  Apart from a vote on an "annual" basis on Directors, which in theory is no different to normal ownership rules under Table A, I'm not sure what is new. 

Emperor's new clothes? 

Edited April 7, 2022 by shefcanary

[cornish sam 960]

36 minutes ago, shefcanary said:

CC, your intro hints at a completely different tale to the Crawley website statement.  Could you share the source of your commentary or broaden out your introduction to help us mere mortals understand the "truth" about WAGMI?

ah, ha, you have now.  

So, they buy the club, then recoup their investment by selling it to fans in the form of NFT's.  Their comment about the downside is thus arrogant at best, because presumably should the worst happen, individual fans will be out of pocket.  There is also little discussion here of how much share in the club per NFT or what the cost of an NFT will be. 

And what voting rights do you get for the NFT?  Apart from a vote on an "annual" basis on Directors, which in theory is no different to normal ownership rules under Table A, I'm not sure what is new. 

Emperor's new clothes? 

Welcome to the world of nfts...

[wcorkcanary 4,336]

Do you get a perpetual season ticket if you buy NFTs in Crawley ? Asking for a friend. 
 

@Essex Canary